Carbon Nanotubes Market Size, Share, and Trends 2025 to 2034

Carbon Nanotubes Market Size and Forecast 2025 to 2034

The global carbon nanotubes market size was calculated at USD 3.73 billion in 2024 and is predicted to reach around USD 13.88 billion by 2034, expanding at a CAGR of 14.04% from 2025 to 2034.

A carbon nanotube (CNT) is a tube which is made from carbon and its diameters typically measure a few nanometres. Various health hazards which are associated with the manufacturing of carbon nanotubes are affecting the market growth to a great extent. Apart from this the high manufacturing cost also hampers the growth prospects of the carbon nanotubes market. However the increase in commercialization of carbon nanotubes and improvement in the quality will surge the demand going upward during the forecast period.

China and U.S. are major auto manufacturers and exporters of carbon nanotubes. China and the US what affected drastically due to the COVID-19 pandemic. Due to consequent lockdowns and other restrictions the supply chain and logistics were greatly affected. Most of the industries were temporarily shut down. Major supply chain disruptions were one of the most important factors that reduced the production capacity of carbon nanotubes. Many production plans were shut down during the pandemic. As there were restrictions on travel the logistics were also greatly affected. It was extremely difficult to move finished products from one place to another. Also acquiring the required raw materials was difficult during the pandemic.

Carbon Nanotubes Market Key Takeaways

• In terms of revenue, the market is valued at $4.25 billion in 2025.
• It is projected to reach $13.88 billion by 2034.
• The market is expected to grow at a CAGR of 14.04% from 2025 to 2034.
• Asia Pacific dominated the global market with the largest market share of 33.6% in 2024.
• North America is projected to expand at the notable CAGR during the forecast period.
• By product, the Multi-Walled Carbon Nanotubes segment contributed the highest market share in 2024.
• By technology , the chemical vapor deposition segment has held the largest market share in 2024.

AI in the Market

The use of artificial intelligence (AI) on the other hand, in a significant way, boosts the carbon nanotubes (CNT) market. AI in the prediction, optimization, and quality control of CNT production processes can effectively reduce their carbon footprint to the same magnitude. The combination of AI models and manufacturing is possible because of the former's ability to pinpoint the best parameters for synthesis and scaling. Machine learning algorithms spot flaws during the production process and guarantee that the final product meets the predetermined quality standards. In the area of material discovery, AI plays an important role in creating and selecting CNT composites with the desired characteristics for the intended application. Moreover, AI helps the manufacturing sector to be more environmentally, through the use of clean alternatives and the reduction of waste. Besides, the whole process of using AI for market growth becomes smoother because of its support in forecasting, managing inventories, and reducing the number of disruptions, thus creating a conducive atmosphere for innovation and competitiveness in the CNT market.

Asia Pacific Carbon Nanotubes Market Size and Growth 2025 to 2034

The Asia Pacific carbon nanotubes market size was evaluated at USD 1.25 billion in 2024 and is projected to be worth around USD 4.67 billion by 2034, growing at a CAGR of 14.04% from 2025 to 2034.

Due to a growth in the automobile industry, construction industry, aerospace industry and electronics industry in specific nations like India, China, Japan and Malaysia in the Asia Pacific region will boost the market in the future. There is an increase in the manufacturing of electronic items in South Korea, Japan, China and Singapore and it is expected to help in the growth of the market. Increasing demand for circuit boards will increase the usage of this product. The consumer electronics market expected to grow in the Asia Pacific region and this will strengthen it's shared in the global market. India imported electronics worth U.S.$50 billion in the recent years. 5G smartphones worth 4 million and above were shipped. As there is a growing demand for carbon nanotubes in many end user industries there shall be a growth in the market.

Developing nations in the Asia Pacific region are expected to drive the market during the forecast period. Nations like India China Japan and South Korea shall have the maximum market share during the forecast period. Low cost of Labor is one of the main reasons supporting the manufacturing of carbon nanomaterials in this region. Largely available raw materials in the Asia Pacific region we will drive the market growth. Asia Pacific region is seeing an increase in demand for electrical and electronics products. The automobile industries electronic industries instruction industries and the aerospace industries widely used carbon nanotubes in their manufacturing processes. The polymer industry is expected to have a good growth during the forecast period across many nations like Malaysia, Japan, India and China. Governments are investing on producing more and more solar cells which make use of carbon nanotubes. Increased production of the solar cells shall lead to the growth of the carbon nanotubes in this market.

Apart from the Asia Pacific region the North American region and the European region is expected to witness a significant growth rate in the future as many major manufacturers or located here as an increasing demand for manufacturing of polymers in the US market is expected to grow. In order to promote green energy, the governments in the European and North American region are imposing regulations which will help in the growth of the market. The second largest market for carbon nanotubes is the North American region. As many major market players in this industry are funding the research institutes in this region.

Market overview

• Several governments are funding nanotechnology research programs to promote innovation in CNT-based technologies.
• Incentives are being provided for the adoption of lightweight and high-performance materials in the defense and aerospace sectors. 
• Regulations promoting green and sustainable technologies are encouraging the use of CNTs in renewable energy solutions. 
• Educational collaborations and R&D partnerships with universities are being supported to foster advanced materials science.

Key Market Trends

• Integration in electronics & semiconductors: CNTs are being increasingly used to replace silicon in transistor design, offering smaller, faster, and more energy-efficient chips. 
• Growing use in energy storage: They enhance the performance of batteries and supercapacitors by improving charge capacity, conductivity, and life span. 
• Eco-friendly applications: CNTs are gaining traction in water filtration, air purification, and green energy technologies, supporting the global sustainability push. 
• Medical applications expanding: CNTs are being explored for targeted drug delivery, biosensors, and imaging techniques, showing promise in personalized medicine.

Carbon Nanotubes Market Growth Factors

Carbon nanotubes have electrical, physical and thermal properties which has varied application in many industries. The size of the carbon nanotubes it's a few nanometers and they have excellent properties like electrical conductivity, good amount of tensile strength and carbon nanotubes are particularly able to withstand great amount of temperature. In order to increase the strength and to provide lightweight polymers carbon nanotubes are used the reenforcing material in the polymers industry. Carbon nanotubes are also used in the manufacturing process of the turbine blades. The use of carbon nanotubes helps in improving the mechanical strength of these wind turbines. It provides a longer life for the wind turbines. Carbon nanotubes are also used for the manufacturing of electronic display screens for many electronic products. Carbon nanotubes are extensively used in the production of the display screens of television laptops, phones, computers etc as there is a great demand for electricals and electronics devices in many developing as well as the developed nations the demand for carbon nanotubes is expected to grow in these markets. The Asia Pacific region has a good amount of growth in the electrical and electronics industry.

Carbon nanotubes are extremely suitable for the electronics industry. Carbon nanotubes have great mechanical properties and electronic properties due to which they are preferred in the electronic applications. Due to the use of advancement in the technology and increasing development in this region the market is expected to grow during the forecast period. Well in the developing nations like Japan South Korea Singapore kind of China there is an increase in demand for the electronics items. Due to word demand for electronic items the manufacturing industries are procuring carbon nanotubes. There is a great demand for semiconductors in the electronics manufacturing industry. Due to the rapid technological advancements for the carbon nanotubes market and growing investments by many major market players the carbon nanotubes market is expected to have great demand in the coming years. Carbon nanotubes are finding its application in X rays. There's an increasing use of carbon nanotubes in the medical sector especially in case of tumors.

• The electronic industry is undergoing an expansion of demand in various segments as the production of semiconductors, sensors, and display screens is increasing, and CNT is thus being highlighted for its superior electrical and thermal conductivity properties.
• The trend of CNTs being utilized as reinforcement materials is gaining momentum in composites, which include polymers, metals, and ceramics, leading to the improvement of strength and the reduction of weight in the industrial sector.
• The pioneering work in renewable energy has seen CNTs playing a significant role in the enhancement of mechanical strength and efficiency of wind turbine blades, batteries, and fuel cells.
  The medical and healthcare sectors have seen an increase in the application of CNTs that range from medical imaging, drug delivery, and cancer detection, which are all factors that promote their use in the healthcare sector.
• Innovative technologies and R&D investments are the main drivers of the market for CNT-based materials, especially in the developing regions where the demand is higher.

Technological advancements in the market

• Multi-walled carbon nanotube (MWCNT) expansion: Ongoing improvements in synthesis methods like chemical vapor deposition (CVD) have increased yield and quality. 
• Functionalization techniques: Advances in surface modification allow better dispersion in composite materials and greater compatibility with polymers and metals. 
• 3D printing integration: CNTs are being used as reinforcement materials in 3D printing, leading to stronger and more conductive printed components. 
• Hybrid nanomaterials: Blending CNTs with other nanomaterials like graphene is creating synergistic materials with enhanced mechanical and electronic characteristics.

Market Scope

Product Insights

The Multi-Walled Carbon Nanotubes (MWCNTs) segment revenue is expected to register a significantly robust growth rate in the coming period.

The Multi-Walled Carbon Nanotubes consist of multiple layers of concentric tubes developed with graphene, and they are a nanoscale additive that can be helpful in improving the mechanical properties, as well as electrical conductivity and thermal conductivity of products in which they are combined.

Technology Insights

The chemical vapor deposition segment will have the largest market share in the future. The use of this technology helps in having carbon nanotubes which are better in quality. The chemical vapor deposition segment is also very helpful introducing the temperature of carbon decomposition. It is an important factor in the manufacturing of the carbon nanotubes.

Apart from the chemical vapor deposition segment the arc discharge segment will also show a good amount of growth rate during the forecast period. Arc discharge method helps in easy manufacturing of carbon nanotubes. With the help of Arc discharge method the complicated combination of components is created in a simpler way. The other technologies which are used in carbon nanotubes is the laser ablation of graphite, high pressure carbon monoxide and floating catalyst. due to continuous research and development work in this field for the techniques used in carbon nanotechnology the production of carbon nanotubes will increase in future.

Application Insights

Electronics & semiconductor segment is also estimated to register a good growth rate in the forecast period, due to an increasing demand to meet the needs from the various manufacturing industry across the globe. Also, CNTs are extensively used in the fabrication process of the diodes which is done with the help of polymer coating process and it is estimated to increase the revenue growth of this segment during the forecasted period. In the medical and pharmacy industry carbon nanotubes happen to be of great help in the diagnosis of cancer and its treatment. Carbon nanotubes happen to be a great antioxidant. With the use of carbon nanotubes the drugs can be delivered to the affected cells or tissues. All of these reasons or extremely important for the growth of the medical and pharmacy segment.

Regional insight

Asia Pacific Top countries

Emerging as a Global Powerhouse

• China: Leads in both CNT production and consumption. Massive investments in electronics, automotive, and renewable energy drive demand. 
• Japan: Known for high-end nanomaterials R&D, with leading companies integrating CNTs into advanced electronic components. 
• South Korea: Strong presence in the semiconductor and battery industry makes it a significant player in CNT adoption. 
• India: Rising interest in electric vehicles and clean energy has spurred CNT applications in battery tech and filtration.

North America major factors leading towards the growth of this region

A Fertile Ground for Innovation and Scale

• Robust R&D ecosystem: World-class research institutions and universities are pushing the frontiers of CNT applications in electronics and medicine. 
• Government funding: Agencies are investing in nanotech programmes for defence, aerospace, and clean energy. 
  Industrial demand: Key industries like aerospace, automotive, and healthcare are integrating CNTs for enhanced performance and reduced weight. 
• Focus on sustainability: CNTs’ potential in energy-efficient solutions and environmental applications aligns with green energy policies. 
  Startup ecosystem: Numerous startups are innovating in CNT synthesis and product integration, contributing to a dynamic market landscape.

Carbon Nanotubes Market Companies

• ARKEMA S.A.
• CABOT CORPORATION
• CHASM ADVANCED MATERIALS INC.
• SHOWA DENKO K.K.
• THOMAS SWAN AND CO. LTD.
• TOKYO CHEMICAL INDUSTRY CO. LTD.
• TORAY INDUSTRIES INC.
• CHEAP TUBES
• HYPERION CATALYSIS INTERNATIONAL
• LG CHEM
• NANO-C
• NANOCYL SA
• NANOSTRUCTURED & AMORPHOUS MATERIALS INC.
• NOPO NANOTECHNOLOGIES
• OSSILA LTD.
• JIANGSU TIANNAI TECHNOLOGY CO. LTD.
• KLEAN INDUSTRIES INC.
• KUMHO PETROCHEMICAL
• RAYMOR INDUSTRIES INC.

Recnet Developments

Professors from Rochester Institute of Technology (RIT) along with those of the University of Rochester Medical Center (URMC) were given the patent to send biomolecules into the cells through the use of carbon nanotubes. This technology will support inter-cell transfer of bio-therapies to the cells that are targeted and is developed by Ian Dickerson.

Arevo Developed an advanced technology which happens to be a breakthrough in 3D printing. 3D printing is used for objects which are reinforced with carbon nanotubes.

In the year 2021, IP Group Inc. and CoMotion launched nanotechnology startup Somalytics Inc., at the University of Washington. Paper carbon nanotubes capacitive sensor that is sensitive to the body along with being flexible is being developed by Somalytics. This will enable its use for industries and new consumers as the first miniature carbon nanotube. The company will be developing and producing it on a large scale. ChemSpec North America, a specialty chemical distribution organization, entered a non-exclusive distribution agreement in August 2020 with Nanocyl SA in order to promote and distribute carbon nanotube products in the United States and Canada.

LG Chem is aiming to meet the increasing demand of CNT by expanding its production output of carbon nanotubes (CNT) 1,200 ton at its Yeosu plant in South Korean region.

• In August 2025, Nanotherm and Battelle are launching Novara™ to advance next-generation heating solutions for automotive, industrial, and consumer markets.
  https://www.businesswire.com
• In May 2025, Scientists from Japan's RIKEN Center found carbon nanotubes emit more energetic light than absorbed, impacting future solar energy technologies.
  https://interestingengineering.com

Value Chain Analysis

• Feedstock Procurement: Purchase of hydrocarbon gases or graphite as the main raw materials for the synthesis of carbon nanotubes.
  Key Players: Klean Industries 
• Chemical Synthesis and Processing: Obtaining CNTs via chemical vapor deposition, arc discharge, or laser ablation, along with purification.
  Key Players: LG Chem, OCSiAl, Cabot Corporation
• Compound Formulation and Blending: Incorporating CNTs into polymers or other matrices to produce composites with outstanding mechanical and electrical properties.
  Key Players: LG Chem, Nanocyl SA, CHASM
• Quality Testing and Certification: Performing analysis of the purity, structure, and amount of residual catalysts of CNTs to verify that the material meets the performance standards.
  Key Players: International Organization for Standardization (ISO), National Institute for Occupational Safety
• Packaging and Labeling: Making CNT-based materials ready for safe handling and delivery with correct labeling and packaging.
• Distribution to Industrial Users: Providing CNTs to sectors such as electronics, aerospace, and automotive for the further development of next-generation products.
  Key Players: LG Chem, OCSiAl, Cabot Corporation
• Waste Management and Recycling: Turning waste carbon materials into CNTs, thereby indirectly supporting eco-friendly production methods.
  Key Players:  Klean Industries, TrimTabs 
• Regulatory Compliance and Safety Monitoring: Guarantees to follow up on environmental, occupational, and material handling standards throughout the production period.
  Key Players: Organization for Economic Cooperation and Development (OECD), International Organization for Standardization (ISO)

Segments Covered in the report

By Product Type

• Single-Walled Carbon Nanotubes (SWCNTs)
• Multi-Walled Carbon Nanotubes (MWCNTs)

By Technology

• Laser Ablation of Graphite
• Arc Discharge
• Chemical Vapor Deposition
• Catalytic CVD
• High Pressure Carbon Monoxide
• Floating Catalyst
• Others

By Application

• Electronics and Semiconductor
• Energy Storage
• Structural Composites
• Aerospace and Defense
• Chemical Materials
• Medical and Pharmacy
• Others

By Region

• North America
• Latin America
• Europe
• Asia-pacific
• Middle and East Africa